Don’t just talk about the tough economy.  Be ready for it!

Today’s newsletter, The 2009 Readiness Test, outlines the most important questions you should address to ensure that you don’t just survive, but thrive, in 2009.

Just about every one of my consulting clients, prospects and audience members is asking me questions that revolve around the economic situation. Virtually every answer and every conversation I’ve had with them involves one or more of the topics covered in the newsletter.

Here are the six questions outlined in the newsletter:

  1. Do you know where the latent profit is in your business?
  2. Which of your current customers can help you unleash that latent profit?
  3. How does the economic situation help you focus your new customer acquisition efforts?
  4. Is your brand strategy right for the times?
  5. Are you communicating effectively at all customer touchpoints?
  6. How clear and compelling is your internal brand?

Please have a look at the newsletter and share your comments below!


  • Nerio Vakil
    Dec 17, 2008 - 00:00 am

    Hi Steve,
    Very pertinent questions to ask by every company. You know, one of the things we normally see is that during tough times, companies cut down on training, marketing and advertising. I believe these times are the best to accelerate in these areas as you can not only build better relationships with existing customers, but it is easier to get new customers also. I look as what I call “Return on EFFORT” and investments at these times yield the best returns.

  • leonghw
    Dec 20, 2008 - 10:54 am

    latent profits can be made through partnerships instead of solely focusing on one’s product/services.
    bought a pair of jeans today, they gave me 50 dollar vouchers to shop at the next store selling accessories. complementary products. would you waste a 50 dollar voucher when you can redeem it at the next store? (the catch: you have to redeem it for an item that costs more than 50 dollar through cash top-up)

    unless you’re a superbrand or into luxury products, i’d say the best “branding” is a superior quality product and responsive customer service. focus on the basics. customers never fail to notice.

    communicating effectively at ALL touchpoints.
    real life example: bought an air ticket online, took me 10 mins. changed it through the hotline. total time: 45mins. they have to cheek to advertise other holiday packages when i was waiting at the other end of the line and say they VALUE me as a customer!.

    and yes, i agree with you, brushstrokes never work. all fuzzy ideas must be made into measurable actionable items instead of the ‘strategic’ management lingo speak…whatever. be specific and do it.

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